TruStage Insurance & Investments

User Navigation

Claims Information FAQs

Are death benefit proceeds taxable?

Life insurance and accidental death and dismemberment insurance proceeds are not taxable. Any interest paid on the benefits is taxable.

The gain portion of Variable Universal Life and annuity proceeds may be taxable to the beneficiary when it is distributed. There are several ways to defer the gain. Any interest paid on the benefits is taxable. Contact us for more information on specific settlement options available.

Can a beneficiary designation be made online (via the Internet)?

If your policy allows the beneficiary to be updated online, that option will be provided to you in the Update Your Beneficiaries Online link on the Account Overview or Policy Details pages.

If the death resulted from one of the accidents shown below, please provide the additional documents we need to settle the claim. You must also send a copy of a certified death certificate, showing the date of death and cause of death.

Accident resulted from:

Motor Vehicle Accident - Please send the Police Report and the Blood Alcohol Report if the insured was the driver.

If you are not the policy beneficiary, you may be asked for the beneficiary's address.

How long will it take for me to receive the annuity death benefit settlement after you receive all the information?

It normally takes 3-5 business days to process a claim once completed claim information is received from all beneficiaries. A letter and a statement of values are sent out through regular mail. If lump sum payment by check is elected, the check will be sent under separate cover.

How long will it take for me to receive the life insurance or accidental death and dismemberment death benefit settlement after you receive all the information?

It normally takes 1-3 business days to process a life insurance claim and 3-5 business days to process an accidental death and dismemberment claim. A letter, a statement of values and the settlement check are sent out through regular mail.

What does the beneficiary need to provide to CMFG Life Insurance Company upon settlement of the accidental death and dismemberment claim?

1) Copy of certified death certificate
2) If the death resulted from one of the accidents shown below, please provide the additional documents we need to settle the claim.

Why do you need more than a copy of the certified death certificate to settle the claim?The death certificate verifies the cause and manner of death. The additional information verifies the accident, when it happened, how it happened and who was involved.

What does the beneficiary need to provide to CMFG Life Insurance Company upon settlement of the annuity claim?

1) Proof of death

Additional information is required:

If Beneficiary is Estate:

• Letters of Testamentary or Authority issued by the Probate Court showing the name and address of the executor or personal representative of the estate.

• A valid Tax ID Number for the estate (provide on claim form). If you do not have an ID #, one can be obtained by calling the IRS at 1-800-829-4933.

• If there are not enough assets to probate an estate, please obtain a Small Estate Affidavit from the county court house – Probate division, where insured resided.

If Beneficiary is Trust:

• A copy of the trust agreement. The pages of the Trust required are: the title page, the appointment of trustees or successor trustees after death of the insured and the final page showing the date and witness signatures.

• A valid Tax ID number for the trust. If you do not have an ID #, one can be obtained by calling the IRS at 1-800-829-4933.

If Beneficiary is a Minor:

• Completed Claimant's Statement completed by an adult family member in behalf of the minor. The funds will be placed in an interest bearing account with our company until the minor reaches legal age.

• To have the funds released prior to the time the minor reaches age of majority, copies of the court appointment papers for guardianship or conservatorship for the minor child must be received.

If Beneficiary is Deceased:

• Proof of death for the deceased beneficiary.

What does the beneficiary need to provide to CMFG Life Insurance Company upon settlement of the life insurance claim?

1) Proof of death

Additional information is required:

If Beneficiary is Estate:

• Letters of Testamentary or Authority issued by the Probate Court showing the name and address of the executor or personal representative of the estate.

• A valid Tax ID Number for the estate (provide on claim form). If you do not have an ID #, one can be obtained by calling the IRS at 1-800-829-4933.

• If there are not enough assets to probate an estate, please obtain a Small Estate Affidavit from the county court house – Probate division, where insured resided.

If Beneficiary is Trust:

• A copy of the trust agreement. The pages of the Trust required are: the title page, the appointment of trustees or successor trustees after death of the insured and the final page showing the date and witness signatures.

• A valid Tax ID number for the trust. If you do not have an ID #, one can be obtained by calling the IRS at 1-800-829-4933.

If Beneficiary is a Minor:

• Completed Claimant's Statement completed by an adult family member in behalf of the minor. The funds will be placed in an interest bearing account with our company until the minor reaches legal age.

• To have the funds released prior to the time the minor reaches age of majority, copies of the court appointment papers for guardianship or conservatorship for the minor child must be received.

If Beneficiary is Deceased:

• Proof of death for the deceased beneficiary.

Where do I mail or fax my claim documents?

CMFG Life Insurance Company

2000 Heritage Way

Waverly, IA 50677-9202

Fax Number: 1-608-236-8030

Who can notify CMFG Life Insurance Company of a death?

Anyone can notify us of a death. However, only the named beneficiary(ies) can submit the necessary documentation or evidence to settle the claim.

Customer Support

Questions?

TruStage Insurance & Investments

Part of the CUNA Mutual Group family of brands. Founded on more than 80 years of protecting credit unions and their members. View Our Family of Brands

CUNA Mutual Group Family of Brands

Protecting more than 18 million credit union members

Since 1935, the CUNA Mutual Group family of brands has provided products and programs to enhance the financial security of credit union members. Today, we're privileged and proud to help protect members like you.

TruStage® insurance products and programs are made available through TruStage Insurance Agency, LLC and issued by CMFG Life Insurance Company and other leading insurance companies. MEMBERS Insurance and Investments is a marketing name used for the products & programs offered through CMFG Life Insurance Company and other leading companies. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union.